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VietNamNews

Shares enjoy modest rebound

Update: September, 13/2012 - 09:00

HA NOI – (VNS) Stocks rebounded slightly on the HCM City Stock Exchange yesterday after two consecutive sessions of declines, with the VN-Index regaining 0.45 per cent to close yesterday's session at 388.35 points.

Trading volume and value decreased, however, as 32.6 million shares, worth almost VND387.4 billion (US$12 million), changed hands, down 9 per cent in volume and 15 per cent in value from yesterday's levels.

Gains by several blue chips continued to support the market, with the VN30 Index up 0.13 per cent to 453.96 points.

Tan Tao Investment Industry (ITA) was the most active share yesterday with more than 4.76 million shares traded, declining 3.8 per cent to VND5,100 a share.

On the Ha Noi Stock Exchange, the HNX-Index saw an overall decline by the end of yesterday's session, closing off 0.17 per cent at 57.42 points.

More than 28.8 million shares, worth almost VND186.7 billion ($8.9 million), changed hands yesterday.

Investors rushed to unload PetroVietnam Construction (PVX) shares, making them the most active code with a whopping volume of 10.6 million shares traded. PVX was not allowed to trade on margin starting from yesterday as the firm had suffered heavy losses during the first half of this year.

PVX closed off another 5.6 per cent to end yesterday at VND5,100 a share, its third straight day of declines.

The domestic gold price yesterday rose to a one-year high of more than VND46.6 million ($2,233) per tael, thanks to the robust increase of the world gold price, which was driven by the approval of the German court on the eurozone's bailout fund.

The world gold price is currently VND2.7 million ($129) higher per tael than the domestic retail price. (One tael is equivalent to 1.2oz.) — VNS

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